https://www.taxtmi.com/caselaws?id=208703 The High Court upheld the decision of the Income Tax Appellate Tribunal, supporting the rejection of the books of accounts due to discrepancies and the estimation of sale and G.P. rate based on the previous year's figures. The Court found justification for the Assessing Officer's actions, considering lower G.P. rate reported by the assessee in the current year and maintenance issues with the books of accounts. The Court concluded that no substantial question of law arose, affirming the Tribunal's authority as a final fact-finding body and dismissing the appeal in favor of the revenue without costs. en-us Thu, 12 Jan 2012 00:00:00 +0530 Fri, 14 Dec 2012 10:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=208703 The High Court upheld the decision of the Income Tax Appellate Tribunal, supporting the rejection of the books of accounts due to discrepancies and the estimation of sale and G.P. rate based on the previous year's figures. The Court found justification for the Assessing Officer's actions, considering lower G.P. rate reported by the assessee in the current year and maintenance issues with the books of accounts. The Court concluded that no substantial question of law arose, affirming the Tribunal's authority as a final fact-finding body and dismissing the appeal in favor of the revenue without costs. Case-Laws Income Tax Thu, 12 Jan 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=208703